Montreal real estate fall 2014

Montreal Real estate
By Patricia Lallier
Courtier immbolier (DA)

Turn up your nose at the downturn!

Even if the Montreal real estate market enjoyed a huge progress in the last five years, we have to admit that the last year, and especially the last quarter, were marked by an important sales downturn.

Total sales for the Montreal area registered a 5% drop just for the quarter ending June 30^th. In the Ville-Marie district, the reduction of sales was less pronounced, a trend recognized for all kinds of properties. However, co-ownership sales increased a little bit (about 1%). The median price drop has probably played an important role in this market trend. With a median price figuring around $300 000, some inscriptions prices were revised downwards, and became great investment opportunities for more cautious buyers, considering the employment market actual conditions. This cautiousness reflected in the average delay taken to sell a property, a delay that is now more than 140 days. Sellers must then be more patient or, if they are really motivated, do everything to bring out their property, with a more interesting sale price per example.

Even though this last strategy could have an influence on the median price, sales will consequently increase. Isn’t this the main sign for a vigorous and healthy real estate market? Our team can help you picking the optimum strategy to adopt in your selling process. With a fair price offer, you will definitely increase your chances to sale quickly, in a market where the offer is more and more standardizing and where buyers expect more. Setting yourself apart from the market with a fair price. This is how you can turn up your nose at the market downturn that is currently occurring!

Patricia Lallier

Courtier immobilier agréé

Keller Williams Urbain

(514) 499-1898